Shares of the country's biggest private sector lender, ICICI Bank, on Monday witnessed heavy volatility and fell by six per cent in early trade on the Bombay Stock Exchange, amid the company reporting a dismal performance in the fourth quarter.
Shares of the company opened on a weak note at Rs 420, then dipped further to its day's low of Rs 405, down 6.35 per cent from its previous closing price.
On the National Stock Exchange, the scrip opened at Rs 425, then lost further ground and touched its intra-day low of Rs 411.10, a fall of 5.29 per cent from its last closing price.
However, it soon recovered its lost ground and was trading in the positive zone in both the bourses. On the BSE it was quoted at Rs 433.05, up 0.13 per cent and on the NSE, it was trading at Rs 438.25, up 0.96 per cent.
On the volume front, more than 43 lakh shares exchanged hands on both the bourses.
On April 25, ICICI Bank announced its results for the fourth quarter ended March 31, 2009. The company reported a 35.30 per cent decline in net profit and total income during the quarter stood at Rs 9,203 crore compared to Rs 10,391 crore in the same period last year.